JMP Securities lowered the firm’s price target on MGM Resorts to $56 from $57 and keeps an Outperform rating on the shares. Gaming has been a mixed bag year-to-date, with large-cap gaming and regional gaming flat and down 9%, respectively, while online gaming continues to have a more favorable backdrop, the analyst tells investors in a research note. The declining supply of rooms, ramping growth projects, and a favorable group and convention backdrop act as growth catalysts for Las Vegas in 2025, positive takeaways for MGM, the firm says.
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